The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-11-03
NO RESTRICTIONS ON RATES
The Gas-Trust Agitation Causes Some
Talk of Another Kind About Prices.
An Open Ordinance Favored BIZ Some Council
men-Many Subscriptions to Stock Sc
cured By Trust Company Canvassers.


blet hatfrom competition thus assured the out
come Of the agitation will be an ordinance with
out any restrictions to price. This is not new
idea It received considerable attention when
the original ordinance was first considered by
she natural-gas COMMITTEES of councilmen
and aldermen, and was odd times favored by
many who recently opposed advance
listing rates. An alderman, whose temper has
not been at all conciatory in regard to changing
the ordinance, said: 81 am very near the posi-
tion Of favoring an open ordinance with few
strietions, and none to price. That will bring
competition. and competition means low rates"
It is thought that this will be the next move in
the direction of pro vdng for everybody. and
1t is supposed this meaning win fill the lines in
the Indianapolis compauy's announcement that
by the time its pipe lines reach the city arrange
ments will be made satisfactory to the people,
the company, and all other companies that pro-
pose to pipe gas to the city. A meeting
of the gas COMMITTEES of the Council
was talked about for some day this week, but
the alderman who inclines to proposition to
abolish the schedule of rates is mel ber of the
committee, and although the suggestion TO
early meeting came from him. he afterwards
advised that it be put off until next week. "My
reason for deferring the meeting" he said, sis
nv will be in position to talk with some degree
of certainty to what il will be able to do. It
may have some views to what amendments
will be acceptable This does not amount to
much. but it is a straw, when taken in connec-
tion with the fact that the Indianapolis
pany accepted, last night, the Brightwood ord-
nance. 1t has the same general restrictions i'm
posed by the Indianapolis Councils. but fixes no
maximum prices.
The Consumers Trust Company proposes to
put itself thoroughly in lire as a competitor of
the indianapolis company. It is at disad-
vantage 30 far as developed fields and money
available at this time concerned, but it has
completely systematized the work of canvass
Ing that it is not possible for any escape
solicitation to subscribe Its stock Many of
the gentlemen Immediately interested are over
eanguine the result, but others look at it
from point of safe conservatism. One of these
be considered crank or philanthroplst
am neither, DO desire
to have any prominence in this
enterprise until it proves a success hope it
will succeed, for it will be good thing for the
city. Whether it will not rests with the peo- !
pie. Many now have chance to secure cheap
gas II they do not avail themselves of the OPP
portunity, then | am willing to let the other
company come in" That, doubt, is the posi-
ton ot others who frank in telling IT,
yet il the company realizes on only one half the
promises and encouragement given it, the rails
ing OF the full amount of stock will be merely a
question of time Until that feature of the
terprise is settled, it is doubtful if anything will
be done by Council towards making the ordin-
ance satisfactory to all concerned.
The Trust will doubt get a great deal of
help through the desire that is always prevalent
to aid schemes promising TO benefit the city
1t is being supported by those who not
I thuslastic as to its success with very much the
same feeling that led nearly every moneyed
man to invest in prospecting companies early
last spring. a citizen looked at his subscrip-
m IA o yyha an he All asst hing
have subscribed for q share two, but do not
think the $500, 600 be raised. / want gas,
though, and will take it from the first company
that lays its pipes into my neghborhood"
This remark is frequently heard the talk
about the trust being able to have all the money
pledged within twenty days. 1t Is also ques
stoned by many where the gas supply is to come
from, as their faith in the undeveloped fields is
not as strong as that of the enthusi-
the trust can get nucleus from
the wells and leases of the prospecting
companies, all of which willing dispose of
their holdings terms they doubt think
reasonable. The enterprise has already devei-
oped a rivalry among the prospectors to be the
first to unload. gentleman who is largely in
terested in one of these companies was told what
would be the probable offer of certain com
pany. ''Wha. the trust do with these
wellsl" he replied
DO you want to sellr asked.
81 don't know, that depends upon circum-
stances"
If you don't sell, how do you expect to utilize
the wells you haye2"
1--WE have accepted the ordinance. have we
pot' That acceptance means just what it says |
We continuing our prospecting, and if we |
don't begin to npe within sixty days of the date
of acceptance. IL does not amount any thing" |
The Broad Ripple company, it is possible |
may find a market with the Trust for its proper
ties but it looks very much as if it intended to |
lay its own pipeline before opening negotiations |
for a transfer. Some of the eight-inch pipe |
contracted for last week will be here to-day and
in the meantime the company's agents busy |
receiving leases for the right of way 1t was |
L1f,4
company came throwing the city into |
panic by asking for exclusive of the |
streets for certain number of years, that every
other company was on the broad basis of unlim- |
tied competition In the Broad Ripple leases !
there IS the same monopolistic desire, with the |
difference that it pertains the right of way in
the country, and not in the city. After going |
through all the legal verbage to the effect that
the party of the first part conveys to the party
lease is ''for fifty years from the date hereof"
and carries with it ''the exclusive
right to lay and maintain pipe
gas by the party of the second part from its
wells to the city of Indianapolis" 1t has OBJ |
tanned the greater part of the right Of way ex
clusively; but when a gentleman who has charge |
of large amount of real estate the Broad Ripple |
company wanted to pass through was asked yes
terday TO grant the lease. he replied: II will
not sign IL with that exclusive clause in it He
was answered that the company was willing to |
waive that part of the lease. It has not been |
signed. but it is probable the company, barring |
Its desire for exclusive privilege will have |
the lease in its possession to-day. 1t was sug-
Rested. when this fact was related that an ex- |
elusive right of way would be received by the |
Trust company. assuming that the Broad Ripple |
properties were to be transferred to it ALL |
these leases along the Indian apolis and West
field gravel road and the pipeline will come |
into the city by way of Illinois street
The Consumers Trust is not relying on the |
small local companies TO give it a start with |
wells and leases. Mr. Martindale and associates |
yesterday offered it their wells in the Greenfield
region, together with six hundred acres, for
$1,000, q twenty days option. They will |
take half cash and the other half in the paid-up
stock of the pany. II the offer is accepted
they will subscribe S5 900 the company's |
stock; if not the subscription is to be void. A |
gentleman connected with the Indiana polls COM
pany said Tine Trust buy Fisher
Station well at what it cost. We will ask a |
cent of profit the investment there" In ad-
49, nffnr LAM La Ar